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Rabobank sells 3.4% in Yes Bank for Rs 453 cr

Sells 12.6 million shares for Rs 357.03 a piece in open market deals

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Press Trust of India New Delhi
Last Updated : Jan 20 2013 | 3:24 AM IST

The Netherlands-based Rabobank today sold about 3.4% stake in the private sector lender Yes Bank for about Rs 453 crore.

Rabobank sold 12.6 million shares of Yes Bank for Rs 357.03 a piece through an open market transactions.

Of this, Bajaj Allianz Life insurance picked up 2.52 million shares, while Citigroup Global Markets Mauritius picked up 2.2 million shares at Rs 357 per unit, according to the BSE data.

Rabobank owned about 16.7 million shares or 4.73% stake in Yes Bank at the end of March 31, 2012.

Shares of Yes Bank closed at Rs 357.10 on the BSE, down 2.54%.

In 2010, Rabobank had sold about 11% in Yes Bank and had thus reduced its stake in Yes Bank from around 15.9% to 4.9%, it said.

Rabobank has been reducing its stake in Yes Bank as it plans to enter banking space on its own in the country.

As per Indian banking regulations, a foreign bank that holds a stake in a domestic bank cannot simultaneously have independent operations.

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First Published: Apr 26 2012 | 7:37 PM IST

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